Tastytrade review 2024
- Stock trade fee
- $0
- Minimum deposit
- $0
Our verdict
Tastytrade is a professional-grade platform designed for options and futures traders.
Consider Tastytrade if you want a professional-grade derivatives trading platform. Tastytrade offers a capped options fee structure, advanced risk-analysis tools and a variety of derivatives products. Look elsewhere if you're a beginner investor looking for a simple trading platform or want a robo-advisor.
Best for: Experienced stock, options and futures traders.
Pros
-
Highly customizable trading platform
-
Extensive lineup of tradable assets
-
Competitive options fee structure
-
Helpful educational resources and live programming
Cons
-
Complex trading platform
-
No robo-advisor
How we rated Tastytrade features
| Fees | ★★★★★ | Commission-free trades on stocks and ETFs, and no withdrawal fees. |
| Available securities | ★★★★★ | Trade stocks, ETFs, options, futures, cryptocurrencies and Treasuries. |
| Customer support | ★★★★★ | Reach customer support quickly via live chat, email or phone. |
| Mobile app | ★★★★★ | Its mobile app receives high marks from both Google and Apple users. |
| Research and tools | ★★★★★ | Advanced charting capabilities, discussion boards and fundamentals research. |
| Reliability | ★★★★★ | No major outages have been reported. |
To learn how our star ratings are calculated, read our methodology at the bottom of the page.
Tastytrade is best for options and futures traders
With platform tools and features specifically aimed at derivatives trading to help evaluate volatility, risk and profit, the platform is best suited for:
- Options traders. Leverage a competitive fee structure and a myriad of trading tools, including curve analysis and quick roll features.
- Futures traders. Standard, mini and micro futures are available alongside tools designed to help assess your delta exposure.
What you can trade on Tastytrade
- Stocks
- Options
- Futures
- Crypto
- Treasury Bills, Bonds and Notes
Account types available with Tastytrade
- Brokerage
- Joint
- Retirement
- Entity
- International
Where Tastytrade shines
Built primarily for options and futures trading, Tastytrade has some of the best pricing on options and futures contracts in the industry. Its fee for stock and ETF options is $1 to open and $0 to close. Most brokers charge $0.65 to open and $0.65 to close, for a total of $1.30.
Where Tastytrade falls short
It is possible to buy stocks and exchange-traded funds (ETFs) on Tastytrade, but it’s a trading platform first and foremost. Everyday investors looking for a user-friendly platform with tools for fundamental analysis or stock-specific news will likely be better off looking elsewhere. Options and futures traders, maybe not.
Tastytrade’s fees
| Account minimum | $0 |
| Stock and ETF trade fees | $0 |
| Option on stocks and ETFs trade fees ($10 max per leg) | $0 per contract to open, $0 to close |
| Options on futures trade fees | $2.50 per contract to open, $0 to close |
| Options on micro futures trade fees | $1.50 per contract to open, $0 to close |
| Future trade fees | $1.25/contract to open, $1.25 to close |
| Micro futures trade fees | $0.85 per contract to open, $0.85 to close |
| Smalls futures trade fees | $0.85 per contract to open, $0.85 to close |
| Cryptocurrency trade fees | 1% of total crypto purchase and sale up to $10 max |
| ACH deposits and withdrawals | $0 |
| Account transfer fee | $75 |
Is Tastytrade legit?
Yes, Tastytrade is a legitimate brokerage. The company is registered with the US Securities and Exchange Commission (SEC) and was approved as a broker-dealer by the Financial Industry Regulatory Authority (FINRA) in 2016.
Before Tastytrade, CEOs Scott Sheridan and Tom Sosnoff cofounded the popular trading platform Thinkorswim. Tastytrade launched to the general public in 2017.
Tastytrade’s platform is complex
Here are some of the tools you can use to trade with on Tastytrade:
- Watchlists
- Charts
- Quick roll feature
- Quick order feature
- Tastytrade programming
- Follow feed
Tastytrade’s retirement accounts
Tastytrade offers Roth, Traditional, SEP and beneficiary IRA account options from which you can trade stocks, ETFs, options, futures, future options and micro futures.
Tastytrade’s IRA types
- Roth
- Traditional
- SEP
- Beneficiary
Tastytrade’s app
The web and mobile platforms are slightly powered-down, and perhaps a little more user-friendly, compared to the desktop app. You won’t have the same high-level functionality, but you can access your account and trade. You’ll be able to:
- Place trades
- Replace/cancel working orders
- Roll positions
- Close positions
Tastytrade’s desktop app
Initially overwhelming, the platform offers so much data and so many tools that it’s easy to get lost in the beginning. But we found the Tastytrade tutorial collection and Tastytrade programming to be incredibly helpful for familiarizing ourselves with the platform.
Importantly, the platform is highly customizable. We also didn’t notice much lag when toggling through the different tabs and sections. It feels like what you’d expect a professional-grade options and futures trading platform to be.
Tastytrade’s app reviews
| App store | Rating | Total reviews |
|---|---|---|
| Google Play | 3.04 | 1,795 |
| Apple Store | 4.80 | 11,810 |
Tastytrade’s customer support
Contact Tastytrade customer support in three ways:
- Phone
- Live chat
How to open an account with Tastytrade
- Click the “Sign up now” button below and click “Get My Bonus”. Choose I Agree if you accept the terms and conditions.
- Enter your email address, username and password. Select “Continue” and then the type of account you’d like to apply for.
- Enter your personal information.
- Provide information about your trading experience and finances.
- Confirm your identity by answering security questions, and then enable two-factor authentication. Select “Continue To Important Documents” when finished.
- Review and submit your application.
- Once your application is approved, fund your account with an ACH transfer, wire transfer, check or funds transfer from another brokerage account.
- You can begin trading on the Tastytrade platform.
Make sure the name on your Tastytrade account exactly matches the name on your bank account, otherwise you may run into problems when you go to link your account for funding. We ran into this, and had to upload an ID for verification.
Eligibility and required information
- At least 18 years old
- Valid phone number and residential and email address
- Existing bank to fund your account
- Valid Social Security number
Is Tastytrade safe?
The Tastytrade platform is considered safe and secure. It uses Transport Layer Security (TLS) v1.2, with Advanced Encryption Standard (AES) 256 data encryption to encrypt data. Tastytrade also uses real-time monitoring systems to protect customer data and regularly assesses, audits and fortifies its systems and code. Two-factor authentication is available for additional account security.
Compare Tastytrade to other platforms
Tastytrade
★★★★★
Finder rating 4.6 / 5
Available asset types
Stocks, Options, ETFs, Cryptocurrency, Futures, Treasury Bills
Stock trade fee
$0
Minimum deposit
$0
Complete signup bonus
Get $100-$5,000 when you open and fund an account with $5,000 to $1,000,000+
SoFi Invest®
★★★★★
Finder rating 4.2 / 5
Available asset types
Stocks, Mutual funds, ETFs, Alternatives
Stock trade fee
$0
Minimum deposit
$0
Complete signup bonus
Get up to $1,000 in stock when you fund a new account within 30 days.
Public.com
★★★★★
Finder rating 4.1 / 5
Available asset types
Stocks, ETFs, Cryptocurrency, Art, Treasury Bills, Collectibles
Stock trade fee
$0
Minimum deposit
$0
Complete signup bonus
How we rate trading platforms
★★★★★ 5/5 — Excellent
★★★★★ 4/5 — Good
★★★★★ 3/5 — Average
★★★★★ 2/5 — Subpar
★★★★★ 1/5 — Poor
For a complete breakdown of how we score each category, read the full methodology of how we rate trading platforms.
Frequently asked questions
Your reviews
Matt Finder
Editor, Investments
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